July 8, 2003

[Press Release]

 Excel Technology’s Associated Company Camelot Provides ERP Implementation

In Six Large Cities For China Petroleum & Chemical Corporation (中國石化) In China

(July 8, 2003, Hong Kong) - Excel Technology International Holdings Limited (“Excel Technology”, stock Code: 8048), is pleased to announce that its associated company Camelot Information Systems Inc. (“Camelot”), a well established Chinese IT company, is appointed to provide the 2nd phase of ERP implementation for China Petroleum & Chemical Corporation (“Sinopec Corp.”).  This implementation is recognized as one of the largest SAP projects in China, following the official launch of its ERP software platform implemented by the well-known inter-enterprise software company SAP.

In this SAP project, Camelot will partner with the world's leading management consulting and technology service company Accenture, and PCITC (石化盈科), to provide ERP implementation and services in six large cities including Nanjing, Changling, Hainan, Hunan, Beijing, and Xuzhou in China.  The project will be divided into seven stages covering requirement study, overall design, system configuration, systems integration testing, on-site training, data transfer and project management etc.

A team of twenty-two professional consultants, including four expert project managers, are designated to perform the current phase of project implementation in those six cities. More consultants are expected for the project when deployment of the system takes place.

Mr. Simon Ma, Chairman and CEO of Camelot, said, “We are very pleased to have partnered with Accenture and PCITC (石化盈科) to jointly implement and promote this major SAP project in China for Sinopec Corp.  It is always our aim to provide first class service quality to our clients in China. We will dedicate to provide a comprehensive ERP solution to Sinopec Corp. for its 2nd phase of ERP project, enable the company to further strengthen its core competence, and to attain advanced management and operations efficiency.  Through this pleasing co-operation, all parties can establish closer relationship in preparation to more collaboration in the future.”

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